In tax credit and tax benefit administration, further providing for definitions; and establishing the employer blood donation tax credit.
Impact
If enacted, HB2170 will amend existing tax legislation to include this new provision for employer tax credits within the Tax Reform Code of 1971. This addition is expected to motivate businesses to support blood donation initiatives actively, as they will receive a financial incentive for facilitating employee participation. Tax credits will be applicable from the tax years 2025 through 2029, encouraging sustained engagement over these years and potentially increasing the overall blood supply in the state.
Summary
House Bill 2170 establishes an employer blood donation tax credit in Pennsylvania, aimed at promoting blood donation through workplace engagement. Under this bill, employers will be allowed to provide paid leave to employees participating in verified blood donations, specifically during organized blood drives by nonprofit organizations. The bill outlines a clear definition of blood donation and establishes the framework for how the tax credit can be claimed by qualifying employers. This initiative is designed to incentivize corporate contributions to blood donation efforts, thus enhancing public health resources.
Contention
One notable point of contention surrounding HB2170 is its financial implications for the state's budget, specifically regarding the cap of $500,000 on the total aggregate amount of tax credits issued annually. Critics may question whether this limit adequately supports the potential demand for the credit and if it truly reflects the scale of help necessary for blood donation drives. Furthermore, while the bill focuses on benefits for employers, there may be concerns about how effectively these incentives translate into actual participation rates by employees, ultimately determining the bill's effectiveness in boosting blood donations.
In tax credit and tax benefit administration, further providing for definitions; and providing for the Pennsylvania National Guard employer tax credit.
In tax credit and tax benefit administration, further providing for definitions; in research and development tax credit, further providing for limitation on credits; and providing for Angel Investment Tax Credit.
In tax credit and tax benefit administration, further providing for definitions; providing for paid family and medical leave tax credit; and establishing the Family and Medical Leave Tax Credit Program.